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Sensex closes 1941.67 points lower, at 35,634.95

Banking stocks slide to 13-month low amid fallout from YES Bank crisis

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Stock Market Down

Benchmark indices were trading over 6 per cent lower on Monday as investor sentiment remained subdued amid the rapid spread of novel coronavirus across the world and developments at YES Bank.

The S&P BSE Sensex was down over 1,941 points, or 6.4 per cent, at 35,144 levels. ONGC (down 15%), Reliance Industries (down 13%), IndusInd Bank (down over 8.5%), and Tata Steel (down over 7%) were the top laggards in the Sensex pack.

The broader Nifty50 index slipped below the 10,350 levels, down around 650 points, or 6 per cent. All the Nifty sectoral indices were in the red. Nifty Metal index, down 4 per cent, bled the most.

Highlights:

  • Sensex, Nifty set for the biggest single-day fall ever
  • Nippon MF moves court against RBI’s decision to write-down yes Bank’s AT1 Capital: CNBC TV18
  • Banking stocks slide to 13-month low amid fallout from YES Bank crisis
  • 10-yr Govt Bond Yield breaches 6%
  • Investors lost nearly Rs 10-trillion in last two trading days
  • Reliance Industries’ 13% fall today is its sharpest intra-day fall since June 2010
  • Sensex recorded its sharpest intra-day fall since November 9, 2016
  • Stock-markets in France and Germany plunge by over 7%
  • Spain’s IBEX 35 falls by 6.8%
  • UK’s FTSE 100 plunges by 8%
  • Norway’s stockmarket has fallen by over 12%

European stock futures slip 10% as oil tumbles

European futures tumbled 10% on Monday as the launch of a price war between Saudi Arabia and Russia sent oil prices crashing, adding to fears the world was sliding into recession on the back of the coronavirus epidemic. FTSE futures FFIc1 tumbled 9.1%, while German DAX futures FDXc1 were off 9%.

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Nizamuddin Railway station employee found corona positive

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New Delhi, April 8 (IANS) A 59-year-old employee of Indian Railways who is posted at the Nizamuddin station has been tested positive for coronavirus. The man has a few months left for retirement.

According to the Northern Railway, he was undergoing treatment at Central Hospital of Northern Railway, due to which 15 employees including doctors have also been infected in this hospital. This employee came to the hospital on March 31 and thereafter on April 2 due to poor health. Initially, there were no traces of coronavirus in him.

Deepak Kumar, Public Relations Officer of Northern Railway, said: “On April 2, when the man came to be hospitalized, the doctors suggested him to undergo MRI and CT scan tests. On April 6, when his report came, he was found positive for coronavirus. The patient has been sent to Rammanohar Lohia Hospital.”

Meanwhile, all 15 people of the Northern Railway Central Hospital, who came in contact with the corona-affected railway staff, have been kept in isolation. These people include doctors and nurses.

The infected railway staff works as a supervisor at the Nizamuddin railway station, hence, doesn’t come in direct contact with the people.

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Crowds at UP banks as lockdown extension appears possible

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Lucknow, April 8 (IANS) With newspapers and television channels announcing the possibility of the national lockdown being extended, people, on Wednesday, started rushing to the banks that witnessed substantial crowds.

The police in Uttar Pradesh had a tough time ensuring social distancing outside the banks.

The bank staff also tried to persuade the customers to stand at circled spots to ensure social distancing. However, since most banks do not have shades or porches, the customers were obviously uncomfortable standing in the sun.

Most of the customers at nationalized bank branch in Hazratganj area were senior citizens.

One of them said, “I have been standing here for about 40 minutes. There is no bench or chair for us. Moreover, the sun is right above our heads. There is no problem in waiting but some facilities should be made for senior citizens.”

Another customer, meanwhile, admitted that he had come to withdraw money after learning that the lockdown is likely to be extended.

“My pension has not come till now but I am going to withdraw money from my account because everything is being sold at a premium in the lockdown,” he said.

A police inspector, managing crowds outside another bank, said, “We understand their problem but they should also understand the need for social distancing. We are not enjoying this duty but rules have to be followed.”

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Markets open in red on Wednesday

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Sensex equity Nifty

Mumbai, April 8: The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.

The Sensex of the BSE opened at 29,701.92 points and touched a high of 29,916.22. The Sensex touched a low of 29,602.94 points.

On Tuesday the Sensex closed at 30,067.21 points.

The Sensex is trading at 29,743.07 down by 324.14A points or 1.08 per cent.

On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 8,688.90 points after closing at 8,792.20 points.

The Nifty is trading at 8,728.60 points in the morning.

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